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← Royal Hospital School Charitable Trust

2024-08-31-accounts

Charity number: 1157146

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST (CIO)

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

SS SS TE CONTENTS

ee

Pages
Reference and Administrative Details ofthe Charity, its Trustees and Advisers 1
Trustees’ Report 2-6
Independent Examiner's Report 7-8
Statement of Financial Activities 2)
Balance Sheet 10
NotestotheFinancialStatements 11-19

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

SS a REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Trustees

Judy Dow (resigned 12 April 2024) Tony Stenning, Chair Simon Lockyer (resigned 31 August 2024) Rebecca Winward Thomas Pratt Irfan Latif (appointed 1 September 2024)

Charity registered number

1157146

Principal office

The Royal Hospital School Holbrook Ipswich Suffolk IP9 2RX

Independent examiner

John Perry Scrutton Bland Limited Chartered Accountants Crown Street Ipswich Suffolk IP1 3LG

Page 1

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

A RET a ig SSA TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present their annual report together with the financial statements of Royal Hospital School Charitable Trust (the charitable organisation known as "RHSCT" or the "Charity") for the year ended 31 August 2024.

The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective January 2019).

Objectives and activities

a. Policies and objectives

The objective of the Charity is to advance the education of pupils at the Royal Hospital School ("RHS” or the "School") , in particular, but not exclusively by:

b. Main activities undertaken to further the Charity's purposes for the public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'. Our objectives stated above show that this is our aim, and we endeavour to accomplish these objectives.

Achievements and performance

a. Main achievements of the Charity

During the year the Charity received donations amounting to £160,298 (2023 - £158,383). These monies received are to be spent on achieving the Charity's objectives in the current and future years.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

SS TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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Achievements and performance (continued)

b. Fundraising highlights

Funding highlights during the period under review included the following:

A standout feature of this years Giving Day campaign was the Quickstep Challenge, a creative initiative that engaged pupils, parents, staff and alumni in a fun and collaborative way, combining school spirit with philanthropy. The campaign's success and originality were recognised with a shortlisting for the IDPE (Institute of Development Professionals in Education) Awards in the Engagement Campaign of the Year category, recognising exceptional achievements in schools’ fundraising and engagement.

Financial review

a. Financial performance

Total income increased to £160,298 (2023 - £158,383) a testament to the Trust's strong donor base and strategic fundraising efforts.

b. Going concern

The Trustees and management have prepared detailed financial forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.

c. Reserves policy

By virtue of the charity's operations and related entities, the Trustees do not consider it necessary to hold unrestricted reserves as the main charitable operation is taking the restricted income received from donations and expending it on restricted fund projects throughout the year. This position remains unchanged from previous years.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

ES2 TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Structure, governance and management

a. Constitution

Royal Hospital School Charitable Trust is a registered charity, number 1157146. The Charity was incorporated as a charitable incorporated organisation on 21 May 2014. The Charity is governed by its constitution which was registered with the Charity Commission on the date of incorporation.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees. The Headmaster of the Royal Hospital School is an ex officio Trustee. Further Trustees are appointed by the existing Trustee body in order that the CIO Trustees should consist of at least one former pupil, at least one current or former parent, and at least one Governor of the Royal Hospital School.

c. Organisational structure and decision making

The Board of Trustees is the principal decision making body of the Charity.

d. Policies adopted for the induction and training of Trustees

Trustees are provided with an induction pack of information bespoke to RHSCT upon appointment. Trustees are also invited to visit the School on a regular basis to meet with the Headmaster, Chief Operating Officer and other members of RHS leadership. It is expected that Trustees undertake training appropriate to their role and opportunities are available through the Schoo! and other organisations, including The Association of Governing Bodies of Independent Schools.

e. Risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Annual fund

The School’s Annual Fund was able to allocate £9,278 for initiatives including a new archery range, a laser cutter, and improved sports branding.

The fundraising events and efforts of the Friends of the Royal Hospital Schoo! have contributed significantly to this fund. We are hugely grateful to all those who have supported us, from every volunteer who serves tea and coffee at Divisions, to organisers and attendees of social events such as Burns Night as well as the annual Christmas Fayre.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

ay TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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Springboard Foundation

The Royal National Springboard Foundation’s vision is that “all children should be able to access a great education, as the firmest foundation for a fulfilling future’. In order to achieve this, their mission is "to widen access to the opportunities available in state boarding and independent schools for young people facing the greatest barriers to their development”. The RHSCT and RHS directly help to support this mission.

Direct financial assistance was provided to support 14 bursaries in partnership with the Royal National Springboard Foundation.

Future developments

Our fundraising strategy and resources are continually being reviewed. Depending on the resources and expertise available, we work hard to build on the foundations of previous years to enhance alumni relations and increase fundraising, through stronger communications and improved marketing.

Future developments will focus on improving and increasing our regular donations, in order to optimise the donor cycle through:

Over the next year we have a calendar of events, including the introduction of an art exhibition/auction in March 2025 (proceeds to go to the Centennial Bursary Fund). This is complemented by an enhanced merchandise portfolio, including more branded items and limited-edition prints by alumnus and photographer George Franks, which will generate further funds.

In the longer term we are looking to:

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the . They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the Board of Trustees on Us CERO) 2925 and signed on their behalf by:

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Tony Stenning
Trustee '
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

SQ cc SSS a ee ee ee INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024

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Independent Examiner's Report to the Trustees of Royal Hospital School Charitable Trust (‘the Charity’)

| report to the Charity's Trustees on my examination of the accounts of the Charity for the year ended 31 August 2024.

This report is made solely to the Charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that | might state to the Charity’s Trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work, for this report, or for the opinions | have formed.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

| report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently | express no opinion as to whether the financial statements present a ‘true and fair view and my report is limited to those specific matters set out in the Independent Examiner's Statement.

Independent Examiner's Statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be RN Signed: aly) Dated: 19 MARCY UNS John Perry FCA

Scrutton Bland Limited Fitzroy House Crown Street Suffolk ‘ IP1 3LG

Page 8

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

ae STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

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||||||||| |---|---|---|---|---|---|---|---| |Restricted|Unrestricted|Total|Total| |funds|funds|funds|funds| |2024|2024|2024|2023| |Notes|£|£|£|£| |Income|from:| |Donations|and|legacies|2|154,811|5,487|160,298|158,383| |Total|income|154,811|5,487|160,298|158,383| |Expenditure|on:| |Charitable|activities|3|55,718|2,846|58,564|35,462| |Total|expenditure|55,718|2,846|58,564|35,462| |Net|income|before|net|gains|on| |investments|99,093|2,641|101,734|122,921| |Net|gains|on|investments|70,333|-|70,333|8,539| |Net|movement|in|funds|169,426|2,641|172,067|131,460| |Reconciliation|of funds:| |Total|funds|brought|forward|869,142|.|869,142|737,682| |Net|movement|in|funds|169,426|2,641|172,067|131,460| |Total funds|carried|forward|1,038,568|2,641|1,041,209|869,142|

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The Statement of Financial Activities includes all gains and losses recognised in the current and prior years.

The notes on pages 11 to 19 form part of these financial statements.

Page 9

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

BALANCE SHEET AS AT 31 AUGUST 2024

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||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |Notes|£|£| |Fixed|assets| |Investments|7|698,877|628,544| |698,877|628,544| |Current|assets| |Debtors|8|26,397|20,240| |Cash|at|bank|and|in|hand|318,395|222,938| |344,792|243,178| |Creditors:|amounts|falling|due|within|one| |year|9|(2,460)|(2,580)| |Net|current|assets|342,332|240,598| |Total|net|assets|1,041,209|869,142| |Charity|funds| |Restricted|funds|10|1,038,568|869,142| |Unrestricted|funds|10|2,641|-| |Total funds|10|1,041,209|869,142|

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The financial statements were approved and authorised for issue by the Trustees on rw r\1s and signed on their behalf by:

Tony Stenning Trustee

The notes on pages 11 to 19 form part of these financial statements.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

Ss NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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  1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Royal Hospital Schoo! Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £.

1.2 Going concern

The Trustees and management have prepared financial forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the _ Accordingly,foreseeable future,these financialbeing at statementsleast 12 monthsare preparedfrom theondatetheofgoing approvalconcernof thesebasis.financial statements.

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

SEa NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

4. Accounting policies (continued)

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

a

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Income from donations and legacies

Restricted Unrestricted Total Total
funds funds funds funds
2024 2024 2024 2023
£ £ £ £
Donations 154,811 5,487 160,298 158,383
Total2023 156,946 1,437 158,383

3. Analysis of expenditure on charitable activities

Summary by fund type

Restricted Unrestricted
funds funds Total Total
2024 2024 2024 2023
£ £ £ #
Direct costs 55,718 2,846 58,564 35,462
Total2023 32,569 2,893 35,462

4. Analysis of expenditure by activities

Activities
undertaken
directly		 Support
costs		 Total
funds		 Total
funds
2024 2024 2024 2023
£ £ £ £
Direct costs 55,718 2,846 58,564 35,462
Total2023 32,569 2,893 35,462

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

4. Analysis of expenditure by activities (continued)

Analysis of direct costs

Donations payable

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||| |---|---| |Total|Total| |funds|funds| |2024|2023| |£|£| |55,718|32,569|

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Analysis of support costs

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|||||| |---|---|---|---|---| |Activities|fundsTotal|fundsTotal| |2024|2024|2023| |£|=|a| |Governance|costs|2,846|2,846|2,893| |Total|2023|2,893|2,893|

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5. Independent examiner's remuneration

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Fees|payable|to|the|Charity's|independent|examiner for the|independent| |examination|of the|Charity's|annual|accounts|2,460|2,280| |Fees|payable|to|the|Charity's|independent|examiner|in|respect|of:| |- Taxation|compliance|services|315|300|

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  1. Trustees’ remuneration and expenses

During the year, none of the Trustees received any remuneration for their qualifying services or other benefits (2023 - ENIL).

During the year ended 31 August 2024, no Trustee expenses have been incurred (2023 - £NIL).

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:

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

ne

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

es 7. Fixed asset investments

Listed
investments
£
Cost or valuation
At1 September 2023 628,544
Revaluations 70,333
At 31 August2024 698,877
Net book value
At 31 August2024 698,877
At 31 August2023 628,544
8. Debtors
2024 2023
£ £
Due within one year
Other debtors 26,397 20,240
9. Creditors: Amounts falling due within one year
2024 2023
£ £
Accrualsanddeferredincome 2,460 2,580

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

10. Statement of funds

Statement of funds - current year

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at|1|Balance|at| |September|Gains/|31|August| |2023|Income|Expenditure|(Losses)|2024| |£|¥|£|£|£| |Unrestricted|funds| |General|Funds-|all|funds|-|5,487|(2,846)|-|2,641| |Restricted|funds| |Music|6,382|2,895|(2,414)|-|6,863| |Bursaries|266,464|151,916|(35,068)|-|383,312| |De|Neumann|Legacy|578,283|-|(18,236)|70,333|630,380| |Heritage|Cafe|9,853|-|-|-|9,853| |Annual|Fund|7,068|-|~|-|7,068| |Hood|House|1,092|-|-|-|1,092| |869,142|154,811|(55,718)|70,333|1,038,568| |Total|of funds|869,142|160,298|(58,564)|70,333|1,041,209|

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

a RS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

10. Statement of funds (continued)

Statement of funds - prior year

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at|Balance|at| |1|September|Transfers|Gains/|31|August| |2022|Income|Expenditure|in/out|(Losses)|2023| |£|£|£|va|£|£| |Unrestricted| |funds| |General|Funds| |-|all|funds|-|1,437|(2,893)|1,456|-|-| |Restricted| |funds| |Music|8,483|2,942|(5,011)|(32)|-|6,382| |Bursaries|116,545|151,259|-|(1,340)|-|266,464| |Heritage|Centre|72|-|-|(72)|-|-| |De|Neumann| |Legacy|586,352|-|(16,608)|-|8,539|578,283| |Heritage|Cafe|10,476|-|(646)|23|.|9,853| |Annual|Fund|15,754|145|(8,796)|(35)|-|7,068| |Hood|House|-|2,600|(1,508)|-|-|1,092| |737,682|156,946|(32,569)|(1,456)|8,539|869,142| |Total|of funds|737,682|158,383|(35,462)|_|-|8,539|869,142|

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SSa a NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

11. Summary of funds

Summary of funds - current year

Balance at 1 Balance at 1 Balance at 1 Balance at
September Gains/ 31 August
2023 Income Expenditure (Losses) 2024
£ £ £ £ £
General funds - 5,487 (2,846) - 2,641
Restricted funds 869,142 154,811 (55,718) 70,333 1,038,568
869,142 160,298 (58,564) 70,333 1,041,209
Summary offunds- prioryear
Balance at Balance at
1 September
2022
£		 Income
ccd		 Expenditure
£		 Transfers
in/out
£		 Gains/
(Losses)
£		 31 August
2023
£
General funds - 1,437 (2,893) 1,456 - -
Restricted
funds 737,682 156,946 (32,569) (1,456) 8,539 869,142
737,682 158,383 (35,462) - 8,539 869,142
Analysis of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted Total
funds funds funds
2024 2024 2024
ze £ £
Fixed asset investments 698,877 - 698,877
Current assets 339,691 5,101 344,792
Creditors due within one year - (2,460) (2,460)
Total 1,038,568 2,641 1,041,209

12. Analysis of net assets between funds

Analysis of net assets between funds - current period

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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST

Ee — — ee ee —————————— Er

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12. Analysis of net assets between funds (continued)

Analysis of net assets between funds ~ prior period

Restricted Unrestricted Total
funds funds funds
2023 2023 2023
£ £ £
Fixed asset investments 628,544 - 628,544
Currentassets 240,598 2,580 243,178
Creditors due within one year - (2,580) (2,580)
Total 869,142 - 869,142

13. Related party transactions

During the year donations amounting to £55,718 (2023 - £31,060) were paid to The Royal Hospital School. The Charity has not entered into any other related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 August 2024 or 31 August 2023.

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